SCHEDULES

SCHEDULE 1Abolition of starting and savings rates and creation of starting rate for savings

Part 2Other amendments

ITTOIA 2005

54

(1)

Section 530 (gains from contracts for life insurance etc: income tax treated as paid) is amended as follows.

(2)

In subsection (1), for “savings rate” substitute “ basic rate ”.

(3)

Omit subsection (6).